Last year SolarCity added 4,000 new hires to our team, bringing our current workforce to over 9,500 employees nationwide. Those are 9,500 bright, determined individuals, from a diverse array of backgrounds.

In a major expansion of our Solar Bonds program, SolarCity is introducing new longer-term Solar Bonds that offer higher interest rates – up to 5.75% – and new ways for investors to purchase bonds through their financial institutions and advisors.

This morning SolarCity announced we’re bringing our solar service to the 16th state: New Mexico. The news makes sense: not only is New Mexico one of the sunniest states in the U.S., it also has more PhDs per capita than any other state, providing further reinforcement that going solar is a smart move.

Today we announced the creation of a new fund that will finance $750 million in solar projects—including a $300 million investment from Google—and make it possible for homeowners across the U.S. to install solar panels with no upfront cost and pay less for the solar than they pay for electricity from the utility company.

A solar power system is customized for your home, so pricing and savings vary based on location, system size, government rebates and local utility rates. Savings on your total electricity costs is not guaranteed. Financing terms vary by location and are not available in all areas. $0 due upon contract signing and no security deposit required for leases and PPAs. A 3 kW system starts at $25-$100 per month with an annual increase of 0-2.9% each year for 20-30 years, on approved credit. SolarCity Corporation will repair or replace broken warranted components. SolarCity DBA Tesla Energy CA CSLB 888104, MA HIC 168572/EL-1136MR, other contractor licenses. SolarCity is not the lender and only the third party lender may approve, offer, or make a loan.

Savings based on SolarPPA and SolarLease customers with at least twelve months of billing data. Savings Rate calculated by subtracting PPA or equivalent lease kWh rate from relevant utility kWh rate. Savings calculated by multiplying actual kWh supplied by SolarCity in customers' first year times Savings Rate. Excludes fully or partially prepaid contracts.

Solar Bonds are debt securities issued by SolarCity. As with any investment, purchasing Solar Bonds involves risk. You must make your own decision about whether and how much to invest in Solar Bonds. SolarCity cannot make any investment recommendations or otherwise provide any investment advice. SolarCity has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) for offerings to which information on this web site relates. Before you invest, you should read the prospectus in that registration statement and other documents SolarCity has filed with the SEC for more complete information about SolarCity and the offerings. You may get these documents for free by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, you may obtain the prospectus relating to the Solar Bonds, and the pricing supplement relating to a particular series of Solar Bonds, at solarbonds.solarcity.com.

*Based on SolarCity average system size of 6 kW and 8,418 kWh average first year production degraded by .5% annually over 30 years. Environmental benefits based on data collected from: Environmental Protection Agency, US Geological Survey, Global ReLeaf, and National Geographic April 2014.